Specialist Gregg Maloney works on the floor of the New York Stock Exchange. / Richard Drew, AP

by Adam Shell, USA TODAY

by Adam Shell, USA TODAY

NEW YORK -- Bolstered by data showing fewer Americans filing for unemployment benefits, the Standard & Poor's 500 stock index on Thursday rose to a new all-time closing high.

The S&P 500, which has regained its record-setting momentum, rose 3.22 points, or 0.2%, to close at 1,877.03, and also hit a new intraday high of 1,881.94.

The Dow Jones industrial average gained 61.71 points, or 0.4% to 16,421.89, and the Nasdaq composite index fell 5.85 points, or 0.1% to 4,352.13.

Wall Street has been pushing stocks into new-high territory in recent days as worst-case fears in the Ukraine crisis recede and investors bet that economic activity will pick up when the weather warms up this spring.

The number of people who filed for unemployment benefits last week fell much more than economists were expecting. That's a sign fewer workers are being laid off. Those jobless claims dropped 26,000 last week to a seasonally adjusted 323,000, the lowest level in three months, the Labor Department said.

Wall Street will be closely watching Friday's employment report. The government will report how many jobs were created last month before the market opens. Non-farm payrolls are expected to increase by 157,000 and the unemployment rate will hold at 6.6%, according to the median forecasts of economists surveyed by Action Economics.

Due to weather distortions, a weak reading might not roil markets as much as it might if weather conditions had not been so severe and such a big drag on the economy. That said, a strong number will be bullish, as it shows strength in the face of headwinds, such as wintry weather.

Investors shrugged off weak earnings reports from retailers, such as office-supply chain Staples and big-box discounter Costco Wholesale. Staples shares plunged 15% to $11.36 after it missed its earnings and revenue targets and said it was closing 225 stores. Costco shares dipped 2.7% to $113.28 after falling short of profit estimates.

On Wednesday,the Standard & Poor's 500 finished off 0.1 of a point, down 0.01% to 1,873.81. The Dow Jones industrial average ended down 35.7 points, or 0.2%, to close at 16,360.18 and the Nasdaq composite index gained 0.1% to 4,357.97.

Bond prices fell. The yield on the 10-year U.S. Treasury note rose to 2.73% from 2.71% Wednesday. Gold rose $11.50 to $1,351.80 an ounce. Gold has risen 2% this week.

World markets were encouraged by an apparent easing of tensions between Ukraine and Russia. Although investors will continue to watch for any signs of escalation in the simmering conflict, investors got good news from the monthly policy meeting of the European Central Bank on Thursday.

The central bank for the eurozone's 18 countries decided to keep its central rate the same at a meeting of its 24-member rate-setting council at its headquarters in Frankfurt. It remains at a record low of 0.25%.

In Asia, Japan's Nikkei 225 jumped 237.12 points, or 1.6%, to close at 15,134.75, and Hong Kong's Hang Sen index climbed 123.19 points, or 0.6% to finish at 22,702.97.

European benchmarks were up, though in Germany's case just barely. Britain's FTSE 100 index gained 0.2% to 6,788.49, Germany's DAX index was virtually flat at 9,542.87 and France's CAC-40 rose 0.6% to 4,417.04.